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Subject: Notice Inviting Institutions to Participate in the Loan Counseling Experiment

Publication Date: August 15, 2016

Posted Date: August 15, 2016

Subject: Notice Inviting Institutions to Participate in the Loan Counseling Experiment

FR Type: Notice


[Federal Register Volume 81, Number 157 (Monday, August 15, 2016)]
[Notices]
[Pages 54052-54056]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-19297]

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DEPARTMENT OF EDUCATION

Notice Inviting Postsecondary Educational Institutions To 
Participate in Experiments Under the Experimental Sites Initiative; 
Federal Student Financial Assistance Programs Under Title IV of the 
Higher Education Act of 1965, as Amended

AGENCY: Office of Postsecondary Education, Department of Education.

ACTION: Notice.

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SUMMARY:  The Secretary invites institutions of higher education 
(institutions) that participate in the Federal student financial 
assistance programs authorized under title IV of the Higher Education 
Act of 1965, as amended (HEA), to apply to participate in a new 
institutional experiment under the Experimental Sites Initiative (ESI).
    Under the ESI, the Secretary has authority to grant waivers of 
certain title IV, HEA statutory or regulatory requirements to allow a 
limited number of institutions to participate in experiments to test 
alternative methods of administering the title IV, HEA programs. The 
alternative methods of title IV, HEA administration that the Secretary 
is permitting under this ESI experiment are designed to facilitate 
efforts by institutions to evaluate certain innovative loan counseling 
practices that can prepare students to manage their college finances, 
inform them about their student loan repayment options, and ensure 
students are well-prepared to repay their loans on time.
    Under this experiment, participating institutions will have the 
flexibility to require additional loan counseling for student borrowers 
beyond the statutorily required one-time entrance and one-time exit 
counseling as a condition for the students to receive Direct Loan 
funds, and to customize counseling based on students' needs.

DATES: Letters of Interest to participate in the experiment described 
in this notice must be received by the Department no later than 
September 29, 2016 to ensure that the Department considers the 
institution for participation in the experiment. Letters received after 
September 29, 2016 may, at the discretion of the Secretary, be 
considered for participation.

ADDRESSES: Letters of Interest must be submitted by electronic mail to 
the following email address: experimentalsites@ed.gov. For format and 
other required information, see ``Instructions for Submitting Letters 
of Interest'' under SUPPLEMENTARY INFORMATION.

FOR FURTHER INFORMATION CONTACT: Warren Farr, U.S. Department of 
Education, Federal Student Aid, 830 First Street NE., Washington, DC 
20002. Telephone: (202) 377-4380 or by email at: Warren.Farr@ed.gov.
    If you use a telecommunications device for the deaf (TDD) or a text 
telephone (TTY), call the Federal Relay Service (FRS), toll free, at 1-
800-877-8339.
 


Last Modified: 08/14/2016